EOLS · Evolus, Inc.

Evolus reported first quarter 2026 results that demonstrated continued operational improvement. Global net revenue reached $73.1 million, a 7% increase year-over-year, driven by unit growth of Jeuveau in both U.S. and international markets and initial contributions from Evolysse injectable HA gels. The company achieved its second consecutive quarter of positive Adjusted EBITDA at $0.6 million, a significant improvement from a loss of $5.5 million in the prior year period, reflecting expanding operating leverage and disciplined expense management. GAAP operating loss narrowed to $6.8 million from $15.2 million in Q1 2025. Management highlighted strong customer engagement, with total purchasing accounts increasing by nearly 500 in the quarter and Evolus Rewards membership approaching 1.5 million, up 27% year-over-year. The company reaffirmed its full-year 2026 guidance: net revenue of $327 million to $337 million (10%-13% growth), non-GAAP operating expenses of $210 million to $216 million, and a low- to mid-single digit Adjusted EBITDA margin. Additionally, the company terminated its at-the-market sales agreement with Leerink Partners, under which no shares had been sold. On tariffs, Evolus noted a 15% tariff on patented pharmaceuticals from South Korea that could apply to Jeuveau starting September 29, 2026, but believes it has flexibility to mitigate near-term impact given product shelf life and manufacturing capacity. Evolysse, imported from France, is currently subject to a 10% tariff. The company also provided a 2028 long-term outlook of $450-$500 million in revenue and 13%-15% Adjusted EBITDA margins.